A representative of Gerding, Korte & Chitwood, CPA's, presented a report on the recent audit of the City of California to the Board of Aldermen at its regular monthly meeting on Oct. 3.
The city management prepared the financial statements. The CPA firm audited the statements in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in "Government Auditing Standards" issued by the federal government.
The management of the City of California presented an overview, with a report of combined ending fund balances as of the close of the fiscal year ending March 31 in the amount of $647,604. Of that amount, more than 75 percent ($494,744) is unreserved and available for use "within the City's designation and policies."
For more of this story check out the Oct. 12 issue of the California Democrat.